The Federal Antimonopoly Service and the Central Bank approved the agreement to repurchase shares of Bank Pochta by VTB

“We have received approval from the FAS and approval from the Central Bank for the purchase transaction of Post Bank shares owned by Russian Post. Let me remind you that the deal will be carried out in an unconventional way, that is, Post Bank itself will buy the shares of Russian Post, the second shareholder,” said the top manager.

In his words, the transaction is planned within the framework of the capital reduction procedure and “will be carried out from the point of view of settlements from December 19 to 23.” Pyanov clarified that VTB is still waiting for permission from the FAS to conclude a cooperation agreement with Russian Post; said agreement was in force between it and Pochta Bank.

Shareholders of Post Bank, at an extraordinary meeting held on October 29, decided to reduce the authorized capital from 860.4 million rubles to 430.2 million rubles by purchasing the bank and redeeming part of the shares to reduce their total number.

ABOUT In the summer it became known that VTB plans to consolidate 100% of the shares of Pochta Bank. IN post bank capital VTB and “Russian Post” equal shares (according to 50% minus one share), two more titles belong to the chairman of the board of directors of Post Bank, Alexander Pakhomov. VTB will buy back all shares. The deal is expected to close before end of 2024 years, and integration of Pochta Bank into The VTB structure is planned to January 2026 year.

In October, an independent appraiser valued the Pochta bank at 72 billion rubles and the Russian Post stake at 36 billion rubles, Interfax wrote. The bank’s regional network currently includes 25 thousand service points and its active customer base is 8.6 million people. In the Interfax-100 ranking, Pochta Bank is in 22nd place in terms of assets (556.7 million rubles).